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UPDATE: Neighbor 'shocked' at Stanford news
Billionaire accused of fraud is found in Stafford

 Stanford was reportedly staying in a townhouse in the Heather Hills subdivision in southern Stafford. The home of interest has an American flag flying in front of it.
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UPDATE (3:11 p.m.): Journalists and a half-dozen media satellite trucks continue to stake out the Heather Hills view homes for sale in Heather Hills subdivision in Stafford County ( all about Stafford), where Stanford was believed to be staying. It's unclear whether he's there or not. The residence of interest is a modest townhouse with an American flag hanging out front and a gold Lexus SUV parked directly in front of it. It has 1,454 square feet and three bedrooms, according to property records online at intelius.com. A bank repo sign hangs in front of a neighboring house.

Kitsy Young lives in a townhouse near where Stanford was believed to be staying.

"I was shocked that it was right across the street from where I live," she said.

When media broke the story to her last night, she hadn't realized exactly who they were talking about. She never imagined it was someone so prominent - until she turned on the TV news and made the connection.

"I was thinking it couldn't be the one I saw on the news," she thought at first. And then? "Oh my gosh! It is the guy across the street.

"You don't think somebody from your neighborhood is going to do something like that - let alone in a townhouse neighborhood. You'd think he'd have had some money" to stay someplace nicer, she said.

Six homes are currently listed for sale in the neighborhood, ranging in price from $129,900 to $164,360. One the same size as the home Stanford was believed to be staying in is listed at $149,900.

She said she doesn't have major concerns, but it's not a comfortable situation.

"It feels a little disconcerting that someone of that character would be across the street," said Young, who works for the Department of Defense. "Someone of that character, you don't know what else they might do."

Christina Erie, 31, lives three doors down from where Stanford was believed to be.

"I think it's kind of crazy," she said. "Of all places?"

She said relatives have been calling asking her, "Is that your neighborhood."

For her family, she said, the news has stirred some excitement. News crews trained their cameras and lights on the house a few doors down from hers all last night.

"Our house was just glowing from all the lights," she said. A hovering helicopter and unmarked cars added to the weirdness.

Erie admits to thinking about all the money Stanford might have access to - and what he might have done with it.

"I've looked over our porch and thought, 'Hmm, I wonder what's in that doghouse.' "

- Brian Baer


Have YOU had an encounter with Stanford? If so, please email reporter Edie Gross.

Click here to see the civil complaint by the Securities and Exchange Commission
Date published: 2/20/2009

By Edie Gross

FROM STAFF and WIRE REPORTS

Accused of cheating investors out of $8 billion, Texas financier R. Allen Stanford could've been anywhere when he dropped out of sight earlier this week.

He has extensive business ties in Latin America and the West Indies, and dual citizenship in the United States and the Virgin Islands.

He was even knighted in Antigua and Barbuda, where he resides and is better known as Sir Allen.

So where does a guy with those kinds of connections go to get away from it all?

Apparently, Stafford County.

That's where FBI agents from Richmond caught up with him yesterday after officials with the U.S. Securities and Exchange Commission asked for help tracking him down, according to FBI spokesman Richard Kolko.

Stanford, 58, has not been criminally charged with anything. But FBI agents served the billionaire and cricket enthusiast with the SEC's civil claim against him, alleging $8 billion in fraud against as many as 50,000 investors in 131 countries.

A law enforcement official, speaking on condition of anonymity, said an FBI agent staked out a location in the Fredericksburg area, then spotted Stanford about 1:45 p.m. in a car driven by Stanford's girlfriend.

The agent spoke to Stanford, who was riding in the passenger side, the official said. The agent handed Stanford the SEC complaint, a federal court order freezing Stanford's assets and another order naming a receiver.

Stanford told the agent he understood and would make arrangements to surrender his passport, the official said.

Authorities have said they do not believe Stanford was trying to hide from law enforcement.

CNBC tracked Stanford to a home in the Heather Hills neighborhood of Stafford County late last night. According to county property records, the home belongs to a Bryan Stoelker.

British news reports have identified Andrea Stoelker, a former Stafford County resident, as Stanford's girlfriend and president of the board of directors of a cricket tournament that Stanford sponsors in Antigua.

She graduated in 1996 from Stafford High School, where she was active in sports and academic clubs, according to the school yearbook.

CNBC said the FBI served the papers while the couple was in the driveway of the southern Stafford home.


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